While in most areas of the country there’s still a few weeks before school begins, most parents have already completed their back-to-school shopping… if they did any at all. Increased costs across the board – from food to insurance – are impacting spend. While Ankura’s 2024 Back-to School Shopping Survey reports that 48% of parents say they spent, or plan to spend, the same as they did last year on back-to-school shopping they believe their dollar just won’t stretch as far. Here’s a look at what parents will, and won’t, be spending on this year.
Ringing Up School Supplies
Total U.S. Back-to-School Sales: $81.16 billion
This is up 3.2% YoY, but down from 7.2% growth in 2023
Average Per-Family Spend
- 42% $250 or less
- 28% $251-500
- 13% $501-750
- 10% $751-1,000
- 7% More than $1,000
Online Shopping for the Win
Most consumers shop for back-to-school online, but department and discount stores account for most of in-person retail.
- 57% online
- 50% department stores
- 47% discount stores
- 42% clothing stores
- 23% electronics stores
America’s Favorite Back-to-School Retailers
- Walmart
- Amazon
- Target
- Discount/Dollar Stores
- Office Supply Stores
- Warehouse Clubs
What’s In Your Backpack?
Parents are stocking up on must-haves vs. purchasing nice-to-haves.
- School Supplies
- Clothing/Accessories
- Footwear
- Books & Study Materials
- Food & Beverages
- Health Products
- Sporting Goods
- Electronics
- Dorm Furnishings
- Other
Sales to the Rescue!
While shopping is already underway, the majority (86%) of consumers still have at least half of their purchases left to complete. The top reasons consumers still have shopping to do are because they are waiting for the best deals (45%) or they don’t know what is needed yet (45%).
Sources:
National Retail Federation 2024 Back to Class Survey
